Tampa Bay Rays starting pitcher Nick Martinez has made a decision on his contract for the upcoming baseball season.
Martinez held a $20 million mutual option with Tampa Bay. On Friday, the veteran made a decision on the deal.
Nick Martinez Declines Mutual Option
Per Jon Heyman of the New York Post, Martinez has declined his mutual option with the Rays, forgoing his $20 million salary for 2027 in exchange for a $4 million buyout.
“Nick Martinez is declining his Rays mutual option for $20M, picking up $4M in the process and becoming a free agent (of course!) Note: Basically zero mutual options are exercised by both sides,” Heyman wrote on his X.
It’s worth noting that the Rays could have also chosen to decline the mutual option, so the $20 million was not guaranteed. But given Martinez started Game 1 of the World Series for the Rays, the 2026 American League pennant winners, there was certainly a chance that Tampa Bay would have picked up their end of the mutual option.
There is, of course, a chance that Martinez and the Rays could work out a new contract. But as of right now, the veteran starter will get to test free agency once again and see what’s out there for him after a strong season for Tampa Bay.
Where Will Nick Martinez Land?
The 36-year-old Martinez went 15-6 with a 3.10 ERA for Tampa Bay in 31 starts with 180.1 IP. He racked up 3.1 bWAR and was named an All-Star for the first time in his MLB career, an impressive feat given his age.
Martinez played last season on a $9 million salary for Tampa Bay, and he delivered on that number by being a very solid contributor to a Rays team that won the AL pennant and made it to the World Series, ultimately losing to the Milwaukee Brewers 4-1.
Between the $9 million Martinez made in 2026 plus his $4 million buyout, he pocketed $13 million for his one year in Tampa Bay.
He should have no problem getting solid contract offers on the open market this offseason, as any team that needs a durable veteran starter should consider bringing him into the fold.
Nick Martinez Makes Decision on Rays Contract